District Court Grants Preliminary Approval of $479 Million Settlement of Economic Loss Claims in Philips MDL Litigation

On October 10, 2023, the Honorable Joy Flowers Conti granted preliminary approval of the $479 million settlement of the Class Action Complaint for Economic Losses filed by Chimicles Schwartz Kriner & Donaldson-Smith LLP and its co-lead counsel in the multi-district litigation In Re Philips Recalled CPAP, Bi-Level PAP, and Mechanical Ventilator Products Litigation, relating to plaintiffs’ claiming economic damages from the recall of Philips’ breathing machines. A hearing on final approval of the proposed settlement by Judge Conti is scheduled for April 11, 2024.